Following the initial halt in CSI-300 Futures at the 5 percent limit down level, the afternoon session opened to more carnage and amid the worst ‘first day of the year’ in at least 15 years, Chinese stocks collapsed further to a 7 percent crash. At 1334 local time, stock trading was halted for the rest of the day across all exchanges (at least two hours early).
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Trading was halted at about 1:34 p.m. local time on Monday after the CSI 300 Index dropped 7 percent, according to data compiled by Bloomberg. An earlier 15-minute halt at the 5 percent level failed to stop the retreat, with shares extending losses as soon as the market re-opened. The selloff, the worst-ever start to a year for Chinese shares, came on the first day the circuit breakers took effect.
